Czech market skyrocketed today and continued its yesterday’s rally with 3.3% gain as the positive sentiment prevailed partly also because of the end of first half and thus possible window dressing effect. The trading session was dominated by CEZ and Zentiva, when CEZ touched even CZK 760 level, however failed to hold it as end clients were selling. Zentiva soared the most as helped by Pliva bidding war from the side of Barr Pharmaceuticals and Actavis. Moreover rally on Hungarian pharmas helped to close at day highs, so should be positive for the next move. Erste and Cesky Tel also firmed on the back of recent underperformance, while latter touched CZK 480 at the close.
3/7 PM Paroubek should resign
Cesky Tel: Name to be changed due to rebranding to Telefonica O2 CR
5/7 Market closed: Public holiday
6/7 Market closed: Public holiday
7/7 Foreign trade (May): Patria estimates CZK 5bn surplus